PTC India PAT up 7% to Rs 100 Cr in June Quarter

Power trading solutions provider PTC India has reported an increase of nearly 7 per cent in its consolidated net profit after Tax (PAT) at Rs 100.06 crore for the first quarter of FY21, mainly on account of reduced expenses.

In an exchange filing, PTC India said that it’s net profit stood at Rs 93.26 crore during the same period a year ago.

Significantly, the total expenses of PTC India reduced to Rs 4,499.51 crore, during the quarter under review, from Rs 5,275.07 crore earlier.

However, total income of the company dropped to Rs 4,641.28 crore in Q1, as compared to Rs 5,414.99 crore in the year-ago period.

In a separate statement, Deepak Amitabh, CMD of PTC India, said quoted PTI that “while the demand for traded electricity was impacted initially, the gradual restoration of economic activity has seen a revival of demand to levels comparable to the corresponding period last year.”

“Positive results of structural initiatives taken by government of India in the wake of COVID -19 are now visible, and we remain cautiously optimistic,” he added.

Meanwhile, scrips of the company were trading at Rs 54 apiece, up 0.56 per cent, on Thursday from the previous close on the exchange.